Aug. 22, 2019 - As outlined in our e-communications of May 21, 2019, and August 12, 2019, Québec’s Ministry of Finance has introduced new rules regarding the disclosure of nominee agreements. The new disclosure requirement is relevant to nominee agreements involving one or more parties that are subject to Québec tax...
Urban Planning and Development
More than ever, real estate development and urban planning go hand in hand, especially downtown. However, the urban planning guidelines approved by the City impose a regulatory framework on promoters that may prove to be challenging and restrictive.
Such a framework is essential to align real estate development with citizens’ needs and expectations and to promote a certain degree of urban coherence, both for rapidly expanding neighbourhoods (for example, Griffintown) and redeveloping neighbourhoods (for example, Mile End). Density, architecture, parking, green spaces, social and affordable housing, community facilities and schools are all governed by the City’s urban planning regulatory framework. Mixed use also forms part of these challenges, both for promoters and for the cities, but it takes years to achieve this much sought-after harmony for new neighbourhoods. In fact, the development plan for certain neighbourhoods has not yet caught up with the everyday reality of countless real estate projects and the vision of promoters.
In this respect, the City of Montréal, Ville-Marie borough, has developed a new internal structure that should make it easier for the various stakeholders to complete their real estate projects. Henceforth, the City will designate a coordinator for each project who will assist the promoter in all the necessary administrative procedures from the start of each major real estate project until completion. This continuity should certainly simplify and, above all, speed up the many steps involved, from the initial presentation to the City until completion of the project. This initiative, which still has to be tried and tested, looks quite promising.
June 13, 2019 - The City of Montréal has published a bylaw known as “20-20-20” aimed at promoting the construction of social, affordable and family housing as part of real estate development projects. The terms of this bylaw were eagerly awaited by the real estate industry. The proposed By-law to improve the...